https://www.taxtmi.com/caselaws?id=426947 The appeal was partly allowed, with specific issues remitted back to the CIT(A) and AO for further examination. The Tribunal emphasized the requirement of recording satisfaction for disallowances under Section 14A and upheld the exclusion of notional rent on unsold flats held as stock-in-trade. The Tribunal also acknowledged the principle of allowing deductions for expenses if liabilities are crystallized during the relevant year, as per the Bharat Earth Movers case. en-us Thu, 25 Aug 2022 00:00:00 +0530 Sat, 27 Aug 2022 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426947 The appeal was partly allowed, with specific issues remitted back to the CIT(A) and AO for further examination. The Tribunal emphasized the requirement of recording satisfaction for disallowances under Section 14A and upheld the exclusion of notional rent on unsold flats held as stock-in-trade. The Tribunal also acknowledged the principle of allowing deductions for expenses if liabilities are crystallized during the relevant year, as per the Bharat Earth Movers case. Case-Laws Income Tax Thu, 25 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426947